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Which of the five stages of economic development


Using these ideas, Rostow penned his classic Stages of Economic Growth in 1960, which presented five steps through which all countries must pass to become developed: 1) traditional society, 2) preconditions to take-off, 3) take-off, 4) drive to maturity and 5) age of high mass consumption.

Which of the five stages of economic development takes place over approximately 60 years?

According to Rostow, the drive to maturity is about a 60-year period between the take-off and the final stage, the age of mass consumption.

Who develop 5 stages of economic development?

Unlike the stages of economic growth (which were proposed in 1960 by economist Walt Rostow as five basic stages: traditional society, preconditions for take-off, take-off, drive to maturity, and age of high mass consumption), there exists no clear definition for the stages of economic development.

What are the five 5 stages of Rostow's economic development and growth?

There are five stages in Rostow's Stages of Development: traditional society, preconditions to takeoff, takeoff, drive to maturity, and age of high mas consumption.

What is Stage 5 of Rostow's model?

ECONOMIC TRANSITION MODEL\n\n Stage 5: High Mass Consumption.

What are the stages of economic growth and development?

Stages of Economic Growth and Economic Development Unlike the stages of economic growth (which were proposed in 1960 by economist Walt Rostow as five basic stages: traditional society, preconditions for take-off, take-off, drive to maturity, and age of high mass consumption), there exists no clear definition for the stages of economic development.

What is the 5th stage of economic development?

5. High Mass Consumption Stage- This is the fifth and last stages of economic development (The economy is fully developed and self-sustained at this stage). All the goods and services, necessities, comforts, and luxury are produced in the economy itself.

What is maturity stage of economic development?

Maturity Stage- This is the fourth stages of economic development and in this, the latest techniques or technologies are adopted and used in old sectors of the economy. The rate of economic development is higher than population growth.




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